Dow Jones 2014-12-16

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Dow Jones: 17180

Equity demand

Global Equity markets faced drop around the world , where continues drop of Oil threaten inflation for more drop , while Russian surprising rate hike placed demand for haven

Short-run

market managed to fell below 17200 support zone which added more drop over equity , where market anticipate Fed to head next year for rate hike

market now facing support at 17050 , where below this level market may head to test 16600-700 zone

while as long as market holding trades above 17000 a rebound correction may be expected toward 17700 zone

Long-Run

as we mentioned at the end of last year and early this year , Dow managed to head toward near 18000 by the end of this year

Daily Trend: Down
Weekly Trend: Up

  Support Resistence
Level 1 17050 17340
Level 2 16920 17450
Level 3 16700 17570

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